Coinbase Wrapped BTC (cbBTC) is a token distributed by Coinbase that represents Bitcoin (BTC) 1:1. This means that for every cbBTC token in circulation, Coinbase safely stores an equivalent amount of BTC in its secure custody solution, including cold storage. Essentially, cbBTC is a wrapped asset that allows you to represent other assets in a more manageable format within the Coinbase ecosystem. Importantly, Coinbase users have the ability to convert their cbBTC tokens back into the underlying BTC by simply putting them into their Coinbase accounts or using an exchange.
You can view, swap, send and receive cbBTC tokens directly from your MEW Wallet. To receive your cbBTC tokens you can send them to your public wallet address. You can then view them in your MEW Wallet by selecting your wallet and selecting the token from the tokens list. You should see the cbBTC token information page. You can send your cbBTC tokens in your MEW Wallet by clicking the ‘Send’ button and entering the recipient’s wallet address. To swap your cbBTC tokens, you can click the ‘Swap’ button and choose which tokens you want to swap to. However, if the ‘Swap’ button is not active you will need to use a DEX to swap your tokens.